Solar Panel Cost Guide in Ridgeland, MS (2024 Update)
- Ridgeland Solar Installation Cost: $18,350
- 25-Year Savings: $18,927
- Payback Period: 13.4 Years
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Average Cost of Solar Panels in Ridgeland
Let’s have a look at the average cost of solar panels in Ridgeland.
The national average cost of solar panels is $2.66 per watt, but in Ridgeland it’s 3 per watt.Since a 8.3-kW system is needed to cover the energy consumption of a typical home in Ridgeland, the average price of going solar will be about $18,350 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of installing solar panels can vary based on multiple factors, such as how many panels you need, your energy usage and what installation company you go with.But, once you've paid the initial cost of installation, the return on investment for most homeowners is typically rewarding, with a net average savings of about $16,000 over 20 years on energy bills.
To receive a free quote from a top solar installer in Ridgeland, you can click the button below.
Solar savings over time in Ridgeland
| Year | Return on Investment |
|---|---|
| 1 years | $-16,982 |
| 3 years | $-14,248 |
| 5 years | $-11,513 |
| 7 years | $-8,778 |
| 9 years | $-6,043 |
| 11 years | $-3,308 |
| 13 years | $-573 |
| 15 years | $2,162 |
| 17 years | $4,897 |
| 19 years | $7,632 |
| 21 years | $10,366 |
| 23 years | $13,101 |
| 25 years | $15,836 |
Top Solar Installers in Ridgeland
When switching to solar energy, many homeowners decide to use a solar installation company since overseeing your solar installation yourself can be a difficult project. Plus, if you’re unsure what kind of solar panels and equipment you want, a solar expert can help you figure that out after a site survey and consultation.
If you’d like to go solar but still aren’t sure which solar panel company to go with, here are our recommendations for providers near you:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Ridgeland
Factors that Affect Solar Panel Costs in Ridgeland
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few key factors that will push your cost above or below the average in Ridgeland: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,140. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your energy bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Ridgeland average.
Solar Financing Terms
Many homeowners find the average cost of solar in Ridgeland to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to higher prices over time due to interest.When considering your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you go with to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies in Ridgeland, and each can charge varying amounts for labor and equipment.The size of the company can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.27 | $13,716 | $10,975 | 13.9 years |
| 8 kW | $3.20 | $17,936 | $14,985 | 13.6 years |
| 10 kW | $3.14 | $21,980 | $19,171 | 13.4 years |
| 12 kW | $3.08 | $25,848 | $23,533 | 13.1 years |
| 14 kW | $3.01 | $29,541 | $28,070 | 12.8 years |
| 16 kW | $2.95 | $33,058 | $32,783 | 12.6 years |
| 18 kW | $2.89 | $36,399 | $37,673 | 12.3 years |
| 20 kW | $2.83 | $39,564 | $42,738 | 12.0 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a tough decision, we have some tips to help you, such as:
- Warranty: Warranties that provide coverage for panel repairs and maintenance over around 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a good company.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Ridgeland, MS Solar Cost FAQs
What is the average cost of installing solar panels in Ridgeland?
The average cost of solar panels in Ridgeland is about $15,700 for a 5-kW system and $31,400 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How will installing solar panels impact how much my home is worth?
Solar panels can increase your property’s value considerably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.